All green numbers are correct. Income statement values are
correct. The only value I need help finding is "cash" on
the Balance Sheet. I know the answer is not
$4,100 and it is not $4,237.
Homework Answers
Cash working as follows:
| Cash | |
| Stock issue | $4,100 |
| Paid for material | ($700) |
| Paid for worker | ($1,840) |
| Paid for rent | ($839) |
| Paid to employees | ($90) |
| Paid for rental | ($109) |
| Sales revenue | $2,080 |
| Ending balance | $2,602 |
_________________________________________________________
Prepare Balance Sheet as follows:
| Benson Company | |
| Balance Sheet as of 12/31/ Year 1 | |
| Assets | |
| Cash | $2,602 |
| Finished goods inventory | $1,635 |
| Total Assets | $4,237 |
| Equity | |
| Common stock | $4,100 |
| Retained Earnings | $137 |
| Total Equity | $4,237 |
Add Answer to:
All green numbers are correct. Income statement values are
correct. The only value I need help...
I cannot figure out value of cash for the balance sheet. It is not 4,100 and...
I cannot figure out value of cash for the balance sheet. It is
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Paid $520 rental fee for production equipment.
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